Europe Microgrid Market Size & Outlook, 2023-2030
Europe microgrid market, 2018-2030 (US$M)
Related Markets
Europe microgrid market highlights
- The Europe microgrid market generated a revenue of USD 17,682.0 million in 2023.
- The market is expected to grow at a CAGR of 16.5% from 2024 to 2030.
- In terms of segment, chp was the largest revenue generating power source in 2023.
- CHP is the most lucrative power source segment registering the fastest growth during the forecast period.
- Country-wise, UK is expected to register the highest CAGR from 2024 to 2030.
Europe data book summary
| Market revenue in 2023 | USD 17,682.0 million |
| Market revenue in 2030 | USD 51,442.2 million |
| Growth rate | 16.5% (CAGR from 2023 to 2030) |
| Largest segment | Chp |
| Fastest growing segment | CHP |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | CHP, Natural Gas, Solar PV, Diesel, Fuel Cell |
| Key market players worldwide | ABB Ltd, Siemens AG, GE Aerospace, Eaton Corp PLC, Exelon Corp, Honeywell International Inc, NRG Energy Inc, Spirit AeroSystems Holdings Inc Class A, Northland Power Inc, Viridien |
Other key industry trends
- In terms of revenue, Europe region accounted for 23.0% of the global microgrid market in 2023.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 54,605.5 million by 2030.
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Microgrid Market Scope
Microgrid Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Europe microgrid market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to microgrid market will help companies and investors design strategic landscapes.
Chp was the largest segment with a revenue share of 37.62% in 2023. Horizon Databook has segmented the Europe microgrid market based on chp, natural gas, solar pv, diesel, fuel cell covering the revenue growth of each sub-segment from 2018 to 2030.
According to the European Commission, the economy is mainly dependent on the construction industry. According to the European Construction Industry Federation (FIEC), the growth of the construction industry increased by 2.4% in 2022 compared to 2021.
Therefore, growing construction drives the growth of commercial, residential, and industrial spaces in the region. This is expected to increase power demand and fuel the market growth. The Government of Denmark announced Energy Renovation Strategy with an objective of 100% power generation through unconventional sources such as wind and solar by 2050.
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Target buyers of Europe microgrid market databook
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Our clientele includes a mix of microgrid market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of continent-level data and insights on the Europe microgrid market , including forecasts for subscribers. This continent databook contains high-level insights into Europe microgrid market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Europe microgrid market size, by country, 2018-2030 (US$M)
Europe Microgrid Market Outlook Share, 2023 & 2030 (US$M)
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